American Education Services — shady business practices
My student loan was moved to AES after the company I originally borrowed from, Student Loan Xpress, went out of business. I was never informed of this change; I simply got a mass e-mail from AES about some new service they have, which of course I thought was spam and almost deleted. I did a little research and realized that, unfortunately for me, my loan had been moved to AES. I was able to create an account on their website, but there was no information about my loan whatsoever-- all the fields were blank. I waited a few days (this was weeks already after the loan had been moved), then e-mailed them, and then finally got a reply that said the information would be available soon. It was-- after about 2 or 3 weeks-- but did not include any payment history, nor the amount due each month and the date it would be due. I kept checking periodically, but under "Payment Due" it always said "$0, " and I could never find information about how much I was supposed to send and when. I finally e-mailed them after a couple of months of no information, and they sent me a rambling e-mail about how student loans work, with this gem at the end: "monthly statements may not list an amount due for that month but are reminders that there is a balance remaining on your loan."
It may be perfectly legal for a student loan company not to inform their customers about the amount due each month, but it is really, really shady. I have received absolutely no updates from them-- all the information I've received has come at my insistence. I hate to think how many AES borrowers have forgotten to make their payments and are just letting their loans sit there, accruing interest, while AES chuckles all the way to the bank.
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